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2012

English version

| 85 page |

contents

12

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44

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76

52

26

5

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Caspian Motors


Nabucco:

20

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56

58

English version

60

62

40

, :

42

64

44

| 85 page |
www.InvestKz.com

56
43
13
60
15
62
42
14, 31
1215, 42, 54
80
14
1213
17
49
37

Agip KKO
75
Atlantic Waste Solutions
27
B&R 58
Bank of Tokyo Mitsubishi UFJ
33
BG Kazakhstan
43, 75
BI-Group 78
BKEShelf 27
BNP Paribas
32
Botas
52, 54
Bulgargaz 52
Caspian Investments Resources Ltd.
34
Caspian Motors
76
Caspi Meruerty Operating Company
57
CCEL
67, 73
ChevronTexaco 7475
CITI BANK of Tokio
32
CMOC 27
DuPont 63
EGL 54
EIA 34
ENI 33
ENKA 60
E.ON Ruhrgas
54
ExxonMobil
72, 75
GATE 60
Halliburton International
75
Harris Interactive
82
Honda
80
Japan Bank for International Cooperation
33
JBIC 32
ICP DAS
58
Kazakhstan Petrochemical Industries Inc
57
Kaz M-I
27
KAZENERGY 18
Krempel 63
Magna Carta College Oxford
49
Marubeni Corporation
34
MI-SWACO 27
MOBILEX 59
MOL 5253
Nabucco Gas Pipeline International
52, 54
Nazarbayev University
14
NCOC
18, 21
OMV Gas & Power GmbH
52
Petkim
66, 72
Petroleos Mexicanos
67
Qatar Petroleum
67

l 2012#4l

Kazakhstan

RMA Group
76
Rockwell Automation
58
Rompetrol Group N.V.
73
RWE Supply & Trading GmbH
5253
Saipem 60
Satel OY
58
Schlumberger 60
Siemens 58
Sinopec 34
Sinopec Engineering
34
SOCAR 54
Standard & Poors
6465, 6768, 7273
Technip 27
Total 75
Transgaz 52
13

4243

5859
69
69
69

32

59

21
3334

32, 67
6869

62

68

21

32, 54, 6470, 7273

66

57

6470, 7273
66
28

33

59

33
21
53

32

15
59

21

21, 34
75

21, 34, 57

21, 53

18, 26, 3134, 6465, 6770, 7275

75
21
32
34

31, 34, 37, 4243

3738

59, 7475
59
59
59

14

21, 34, 75
- 21

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33

43

68

57

18, 21, 66, 7475
75

27

34

21, 67, 73
66

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34, 4448

27

13

21, 34

14

21, 34, 67, 75
73

21, 34, 7375
14

67, 72
-
16, 18, 67
- 15

21

66
14
- 21

5657

18

60
53

33
60

18, 21, 60, 6970, 7375
2628
27

21
67
..
26
62
75

21, 34
62


32, 60
32

30

17, 57

17, 32
30

66


57

,
,

Kazakhstan, 2012 5
:

:

Editor-in-chief:
Vladimir Voloshin

-:

Managing Editor:
Sergey Gakhov

PR-:

C :



,
,

KAZENERGY
KIOGE. , , . 20
KIOGE,
.
Kazakhstan
!
KIOGE, , ,
. ,
, .
2012 , , , . , ,
,
.

,
Kazakhstan

.
.
: kz@investkz.com

Publisher:
Kazakhstan Business Magazine Ltd

-:

Owner:
Kazakhstanika Ltd

Art-Editor:
Eugeniy Momot
PR-manager:
Natalya Voloshina
Advertising Service:
Kirill Ivantsov
Aizhan Kassymaliyeva
Galiya Zhukasheva
Dinara Kokkozova

Technical Editor:
Ludmila Stepanova

Proofreader:
Liliya Gerasimenko

Design:
Murat Charipbaev
Almaz Uraimov


.

.

The editors do not always share


the opinions of the authors.
Articles marked as
are published as advertisements.

The advertisers are fully responsible for


the content of their advertising materials.

The editors reserve the right to edit


and abridge texts without changing
their informational content.

No material in the Magazine marked with


the sign may be reproduced in
any form or by any means without
the written permission of the publisher.

,
5000

The magazine is published with 5,000 copies


six times a year



.
C. 5920- 27.04.2005

The magazine is registered in the Ministry


of Culture and Information
of the Republic of Kazakhstan.
Registration certificate # 5920- as of 27.04.2005

,
,

:

For any matters concerning co-operation,


the distribution and placement
of advertising and other materials,
please contact:

, 050060,
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-, 3 , 319
.: + 7 (727) 266 25 07
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e-mail: info@investkz.com
www.investkz.com

236 "B", Gagarin Ave., business-center


"Temir-Tau", 3rd floor, office 319
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tel.: + 7 (727) 266 25 07
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e-mail: info@investkz.com
www.investkz.com

: ,
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Post Box 185, 050000, Almaty,


Republic of Kazakhstan

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Print House Gerona
,
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Printed by
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office 201-205, 458/460, Seifullin Ave.,
050000, Almaty,
Republic of Kazakhstan
Tel./fax: +7 (727) 250 47 40




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Kazakhstan 2012# 5
S T R E N G T H T H R O U G H C O O P E R A Tl I O N l
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36

l 2012# 5l

Kazakhstan

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Kazakhstan 2012# 5

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Kazakhstan 2012# 5

39

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47


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Golden Rules for a Golden Age of Gas
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Kazakhstan 2012# 5

49




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Kazakhstan

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51

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l 2012# 5l

Kazakhstan

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Kazakhstan 2012# 5

53





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l 2012# 5l

Kazakhstan



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Kazakhstan

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57





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Kazakhstan 2012# 5

59

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61


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Kazakhstan 2012# 5

63

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l 2012# 5l

Kazakhstan

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Kazakhstan 2012# 5

65


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Kazakhstan 2012# 5

67

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l 2012# 5l

Kazakhstan

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Kazakhstan 2012# 5

69

EBITDA
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50

41,6

86,4

45,8
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2007

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l 2012# 5l

Kazakhstan

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2008

12,4

2009

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Kazakhstan 2012# 5

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l 2012# 5l

Kazakhstan

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l 2012# 5l

Kazakhstan

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Kazakhstan 2012# 5

75



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l 2012# 5l

Kazakhstan

Group
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Kazakhstan 2012# 5

77



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Kazakhstan 2012# 5

79

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l 2012# 5l

Kazakhstan

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Kazakhstan 2012# 5

81



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2
0
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_
5

Kazakhstans Oil and Gas:


Reserves, Production, Investment
Kazakhstan and Russia:
Course on Innovations
86
Ministry of Oil and Gas
Our Primary Task Is
Promotion of Local Content
90
No Right to Export for
another Five Years?
100
Real Estate
Atyrays Future Homes Today
105
Gas Legislation:
The State Strengthens its Positions
106

2012

forum

Kazakhstan and Russia:


Course on Innovations
86

The 9th Forum of Interregional Cooperation of Kazakhstan and Russia was held
on September 19 in Pavlodar with participation of Nursultan Nazarbayev and
Vladimir Putin. Started in 2003 in Omsk, this event is being held on an annual
basis for already nine years. During this time, the leaders, and the political and
business elites of the two countries met in Chelyabinsk, Novosibirsk, Orenburg,
Ust-Kamenogorsk and Aktobe. In 2012 it was the turn of Pavlodar.
l 2012# 5l Kazakhstan

he Forums program combined various


events aiming atseeking of innovative
ideas to expand mutual cooperation
between our countries. Thus, a separate
Kazakh-Russian business forum was
devoted to theissues of cooperation
inthe field of sustainable development
and high technologies. According to
theresults of this forum theportfolio
of joint projects included 27 agreements
worth about $2 billion. Inthe framework
of t heint er na t ional innov a t ions
exhibition nearly 190 companies from
Kazakhstan and Russia, which have also
signed a number of contracts totaling to
more than $322 million, presented their
achievements inthis sphere.
ThePresident of Kazakhstan inhis
welcome speech pl aced a spec ial
emphasis onthe particular relevance
and importance of theForums themes.
Only for thepast two years, 440 new
production facilities to theamount of $12
billion have been launched inKazakhstan
under theindustrialization program.
We plan to implement more than 700
industr ial and innovat ive projec t s
worth $77 billion until theyear 2020.
Signif icant support and contribution
are provided from theRussian partners
interms of innovative industrialization
of theeconomy.
Inturn, thePresident of Russia Vladimir
Putin stated that thecurrent year isa
turning point for Russia and Kazakhstan.
This year marks the20th anniversary
of diplomatic relations between our
countries. Over these years we have built
a strong foundation of bilateral relations
inthe spirit of strategic partnership
and cooperation. Thelegal framework
has been established and isconstantly
improving, and political contacts have
been set and are developing atall levels.
Innovative cooperation isan important
direction of bilateral partnership. This
isour strategic direction. If we combine
our efforts to implement such projects,
theoutcome would be more significant.
This isthe aim of both theCustoms Union
and theCommon Economic Space.

120,000 Russian cars annually. Thevolume


of investments inthis project isestimated
at$400 million. As thePresident of
AvtoVAZ OJSC Igor Komarov stated during
theForum, this project became possible
owing to thefavorable conditions set
by thecoordinated, industrial, customs
and investment polic y of thet wo
states. According to him, theproject
for establishment of thenew LADA car
assembly plant, as well as cars of other
brands, isthe largest private initiative
inKazakhstani engineering.
Another joint project isthe production
inKazakhstan of civil helicopters. As
Vladimir Putin noted, The engineering
isour pr ior it y, inter ms of new
technologies. Inthe coming years,
we plan to build a full cycle car plant
inKazakhstan and are interested injoint
production of K-226 civil helicopters.
Implementation of these programs will
include new production chains and
improve thequality and scope of industrial
cooperation between thecountries.
Two innovative projects are scheduled
for implemented inKazakhstan by
thecompanies from Nizhny Novgorod
region. These are therelease of intraocular
lenses and production of polymer-bitumen
insulation products. Inaddition, theJoint
Institute for Nuclear Research of Dubna,
Russia, jointly with theInterdisciplinary
Research Complex of theEurasian State
University and theNational Nuclear Center
of Kazakhstan, are currently implementing
projects related to thecreation of
conceptually new materials.

A silicon cluster isplanned to be


developed inthe Omsk region with
theparticipation from theKazakh side,
which involves theformation of a full
production cycle, from raw mater ial
supply from theKazakh deposits to
thefinished product polycrystalline
and metallurgical silicon as well as
wafers for solar energy, microelectronics
and high-accuracy optics. Our country
isalso interested inOmsk equipment for
ground infrastructure GLONASS and GPS.
This Russian development isplanned to be
used for monitoring of oil and gas fields,
as well as thedeployment inKazakhstan
of ground inf rastruc ture of global
positioning.
Cooperation inthe space field was
not left unattended. Baikonur should
become an international innovative
brand and a symbol of qualitatively
new stage inpromotion of our bilateral
relations, said theHead of State. For
conduction of joint researches inthe field
of peaceful use of space, we could create
a new and unique platform of scientific
and technological cooperation Baikonur
Innovation Forum. Inkeeping with
thejoint statement onspace, adopted
by thetwo Presidents inJune 2012
inAstana, Nursultan Nazarbayev outlined
theneed to develop a long-term program
onsharing theBaikonur cosmodrome
and space cooperation. It isimportant
to include inthis program theissues of
modernization of thecity and creation
of infrastructure, meeting themodern
requirements.

From LADA to Baikonur

ne of such joint projects will be


theest ablishment inthe East
Kazakhstan oblast of a car production
facility aiming atproducing of up to

Kazakhstan 2012# 5

87

forum
a full-term technological and industrial
alliance. And as an option for such
cooperation, thePresident invited Russian
companies to participate inthe work of
theinnovative park inAlmaty and emerging
centers of agricultural innovation and
increation of a science city inKurchatov.
Thepresident also suggested a partnership
between theSkolkovo innovation center and
thenew Nazarbayev University. Nobody
from theabroad will provide us their new
technologies, so we need to cooperate for
creation of such innovations here athome,
together.

Results and agreements

Golden triangle

heintegration should concern thethree


elements of theknowledge triangle
education, research and innovations. And we
have positive examples of such cooperation.
This isa joint fund of nanotechnologies
(between Kazyna Capital Management
and Rusnano) and theCenter of High
Technologies inthe EurAsEC. We must
move on. Nursultan Nazarbayev noted
that we should not rely onhelp from
theoutside inthis area and have to grow
professional pool for mastering global
experience and promotion of thescience
by ourselves. We are interested ina wide
student exchange, training and retraining
of specialists intechnical and other fields.

88

l 2012# 5l

Kazakhstan

We are ready to expand cooperation with


Russian universities and research institutes,
especially innew technologies area, said
Nursultan Nazarbayev. This process isbeing
actively developed. Apart from thefact that
theKazakh youth isstudied today inhigher
educational establishments of Novosibirsk,
Barnaul, Omsk and other major border cities
of Siberia, our teachers and doctors pass
their practical training there as well.
Speaking atthe Forum, thePresident of
Kazakhstan offered to follow theEuropean
countries experience increating a single
research network with participation of
universities, research centers and business.
Effective commercialization of scientific
research isthe ground for a competitive
industrial production. I am convinced that
Kazakhstan and Russia jointly could form

number of intergovernmental documents


were signed inthe presence of thetwo
presidents. Among them, theProtocol of
Amendment to theAgreement between
thetwo governments OnTrade and Economic
Cooperation inthe Field of Delivery of
Oil and Oil Products to theRepublic of
Kazakhstan dated December 9, 2010. This
document, which creates theconditions
for duty-free deliveries of Russian oil
products to Kazakhstani domestic market
inthe amount approved by theindicative
oil balance inthe territories of thetwo
countries, was signed by theMinister of
Energy of Russia Alexander Novak and
theMinister of Oil and Gas of Kazakhstan
Sauat Mynbayev. Theprotocol provides for
themechanisms of reimbursement of lost
revenues of theRussian federal budget by
means of counter duty-free deliveries of
Kazakh oil, themethodology of calculation
of their volumes and theprocedure of
implementation.
Less formal, but not less important work
was infull swing inthe other activities
of theForum: theexhibition, theplenary
sessions and theexchange of opinions,
thesigning of bilateral memoranda and
agreements both between indiv idual
companies and theborder regions ,
involving twelve Russian regions (including
theRepublic of Altai, Altai territor y,
Astrakhan, Volgograd, Kurgan, Novosibirsk,
Orenburg, Omsk, Samara, Saratov, Tyumen
and Chelyabinsk regions) and seven
regions of Kazakhstan (including Aktobe,
Atyrau, East Kazakhstan, West Kazakhstan,
Kostanay, Pavlodar and North Kazakhstan
regions).
Intotal, over 250 agreements, protocols
and memoranda oncooperation were

cooperation between Inter RAO UES JSC


and Samruk-Energy JSC which provides
for construction of thefourth energy
generating set of Ekibastuz GRES-2 with
capacity of 600 MW. This project will
ensure thedevelopment of generating
capacity, electricity production efficiency,
energy security of Kazakhstan, repayment
and return oninvestment, as well as
contribute to improvement of partnership
between thetwo companies. Itshould be
noted that atpresent theconstruction of
thethird set, performed inthe framework of
thesimilar memorandum signed previously,
isunder implementation. Thesecond power
generating set was set into operation 20
years ago.

signed between theabove mentioned


regions, to be further complemented by
joint activity plans. There are more than
400 joint ventures operating inthe border
area, and ingeneral 76 regions of Russia
maintain trade and economic relations
with Kazakhstan ona permanent basis.
According to theFederal Customs Service
of Russia, inthe first half of 2012, thetrade
turnover between thecountries amounted
to $10.1 billion, an increase compared to
thesame period in2011 by 0.5%. While
Russian exports grew by 1.6% to $6.4
billion, import from Kazakhstan decreased
by 1.5% to $3.7 billion.
Thebusiness agreements also yielded
results inthe form of a memorandum of

National
Branding
Agency

Summar iz ing t hef or um r e sul t s ,


thePresident Nazarbayev noted that
t heCommon Economic Sp ace and
theCustoms Union contribute to consistent
strengthening of cooperation between
Kazakhstan and Russia. Today, many of
thebarriers that existed between thetwo
countries atthe customs and atthe border
are eliminated which helps to actively
develop joint productions.
P.S. Evgeniy Kuivashev, theGovernor
of Sverdlovsk region, picked up thetorch
of thenext 10th Forum of Interregional
Cooperation of Russia and Kazakhstan to
be held inYekaterinburg.
Marina Popova, Pavlodar

our goal is to create a brand name for your


Company that will be understandable and
respected by your Clients
strategic positioning
developing the brand promotion program
creation of corporate tools of promotion:
web-, video- and print-projects
trainings in technologies of sales and service

Corporate
branding

Your Goal

Your Brand

Our Tools

www.kazakhstanika.kz
el.: +7 |727| 266 2507

Ministry of Oil and Gas

Our Primary Task is


Promotion of Local Content
The development of local content is an important and topical issue at the current stage of
the industrial policy and remains one of the key tasks in support of domestic producers of
goods and services. During the opening of the second session of the Parliament held on 3
September 2012, the Head of State noted the importance of reviewing the whole system
of support of local content, especially in the processing industry, the agricultural sector
and low competitive industries. In this regard, the President instructed the government
to analyze jointly with the National Welfare Fund Samruk-Kazyna the international
practice and develop our own model for support of Kazakh producers.
90

l 2012# 5l

Kazakhstan

Evaluating theresults

wo laws and twelve governmental


resolutions developed and adopted
pursuant to thetask of theHead of State
inrespect of local content contributed
to establishment of effective system for
its monitoring and development. We have
nearly achieved a hundred percent level of
local content reporting submission from
subsoil users and obtained a real picture of
participation of domestic enterprises inthe
development of hydrocarbon deposits. While
in2010, when theSystem of theMinistry
of Oil and Gas for Receiving Reports from
Subsurface Users was set into its operation,
we received only a third of all thereports,
in2011 this problem was completely
resolved. Inaddition, Kazakh entrepreneurs
obtained direct access to theprocurement
plans of theindustry. Today any provider
registered inthe Registry of theMinistry of
Industry and New Technologies information
system or inthe system of theMinistry of
Oil and Gas can see what, when and inwhat
amount oil and gas companies are planning
to purchase. Such data allow providers to
adjust their production plans to thereal
needs of subsurface users.
One of themajor problems we faced
atthe early stages of our work was thelack
of clear material obligations inrespect of
local content insubsurface users contracts.
As a result of interaction with companies,
specif ic obligations onlocal content
have been adopted under 168 contracts.
Serious stimulus for development of
local content inoil and gas companies
was theintroduction inthe contracts
of penalties for failure to commit such
obligations (it concerned 107 contracts).
This year, for thefirst time, 44 penalties
were imposed onthe companies-violators.
As a result of theongoing analysis which
isbeing conducted since 2010 interms
of compliance of theprocurements with
theRules approved by theGovernment for
subsurface users, oil and gas companies
have significantly revised their position
onthe transparency of tender procedures.
While in2010 violations of theRules
involved procurements inthe amount of
157 billion tenge, which made up
25% of all
purchases, in2011 this amount reduced to
18%. And inthe first half of theyear 2012,
thefigure was already reduced to 6%.
Considering theabove, according to
themonitoring for theperiod from January

to June of thecurrent year, oil and gas


companies have achieved thefollowing
in d ic a t o r s : l o c a l co n t e n t int h e
procurements of goods amounted to 10.5%,
works 39.2% and services 59%. Overall,
thevolume of purchases if compared to
thesame period of last year increased by
35% reaching 304.5 billion tenge, and local
content ingoods, works and services by
39% reaching 146 billion tenge.
Inorder to understand theeffectiveness
of ongoing measures t aken by
thegovernmental authorities, we have
modeled themost favorable situation for
thelocal content analysis. Theresults
showed that taken full load of Kazakh
producers in2011, thelevel of local
content would have been more by 3%.
That is, already during thelast year
we have almost reached themaximum
indicator with theexisting production
facilities of Kazakhstan. Atthe same time
there isa question of production of noncapital incentive commodities and limited
domestic production capacity.
Analysis of future purchases during
thedevelopment of ex ist ing f ields
shows that thebulk of theorders (about
70%80%) will account for thegoods, works
and services for wiring deep subsalt wells.
Given theforecast of future prevalence
of demand for goods, works and services
onsuch fields itis required to prepare local
producers to entry into this market. That
is, we must learn to develop theproduction
of goods and improve services that are
indemand inthe deep-lying fields.
Theprimary objective of governmental
author it ies today isto assist
instrengthening thecapacity of Kazakh
companies to produce competitive goods,
including modernization of equipment and
employment of cutting edge methods and
technologies through thestate programs of
business support.
Inthe short term, we plan to focus ona
spot work with nine major subsurface users
of Kazakhstan, which account for 75%
of thetotal procurement of goods, works
and services inthe industry. Increase of
local content inthe procurement of these
companies by only 1% means an increase
of procurement from Kazakh producers by
15 billion tenge. An extended meeting with
theheads of thebig nine isscheduled to
be held inthe nearest future for thepurpose
of setting targets for promotion of local
content intheir projects.

Kanatbek Safinov,
Executive Secretary of
the Ministry of Oil and Gas
of the Republic of Kazakhstan
We should understand that such an
administrative approach inthe development
of local content iscaused by global and
domestic consistencies, and theinfluence
of theeconomic crisis cannot be ignored.
Considering thelong-term development of
local content, thetodays policy interms
of works and services will not change with
theaccession of theKazakhstan to theWTO.
During thenegotiation process, we were
able to reach certain compromises to
preserve (albeit ina limited way) thepolicy
to support domestic production inoil and
gas sphere. For new contracts, we must
build a new model to support of Kazakhstani
economy by thesubsurface users.

Partnership potential

herange of equipment used inthe oil


and gas industry today isvery broad.
For example, inthe procurement analysis
conducted jointly by thework groups of
KMG, TCO, KPO, NCOC and Association of
Legal Entities Union of Machine Builders
of Kazakhstan aiming to increase local
content inmajor oil and gas projects
onthe product group, 30 thousand items of
equipment, spare parts, tools and materials
were revealed.

Kazakhstan 2012# 5

91

Ministry of Oil and Gas

Consider ing theabove, itis ver y


important to correctly identify therange
of import substitution goods, and to assess
theeconomic feasibility and technical
possibilities of their production inthe long
term, that is, during theentire life cycle of
theproject.
Theinit iat ives of theK AZENERGY
Association, large oil and gas operators,
local and foreign companies are primarily
focused onincreasing local content inthe
procurement of subsoil users, including
through thecreation of joint ventures with
foreign service companies, which should
bring modern technologies, investments,
and ensure thecreation of new jobs. All of
theabove should give additional impetus
to thedevelopment of both oil and gas and
related industries inKazakhstan.
As thebenefits received by foreign
partners injoint ventures, itmay be noted,
first, thestate-run policy for industrial and
innovative development, creating a solid
foundation for thesuccessful expansion of
thebusiness inthe long term, as well as a
favorable investment climate. Second, there
isa potential opportunity to win thetender
for thesupply of goods, works and services
for national companies and organizations
that are part of Samruk-Kazyna JSC, as well
as theentry to themarket of theCustoms
Union count r ie s and K a z akhs t ans
neighboring states.

Thepersonnel isfirst

or thetwo decades Kazakhstan has been


developing its oil and gas industry. And
if atthe beginning therepublic suffered

92

l 2012# 5l

Kazakhstan

lack of knowledge and experience to


per form independent development of
thelargest oil and gas fields, now we have
reached a certain level of development and
can provide, where possible, themaximum
involvement of Kazakhstan people inthis
process.
Thefundamentals of theregulator y
framework for creating a pool of qualified
Kazakh specialists and their participation
inthe development of oil and gas industry
were identified by theadoption of theLaw
On Subsoil and Subsoil Use. Thereporting
forms for oil and gas companies, as well as
themethodology of calculation of local
content inthe personnel structure were
adopted. Almost all subsoil use contracts
contain obligations for companies onthe
volume of local content intheir staff,
and theamount of mandatory expenses
for training of Kazakh specialists was
determined.
Infigures, today about 72 thousand
people are engaged under contracts for
subsoil use of hydrocarbons. Theshare
of foreign specialists isinsignificant and
constitutes only 2.3 thousand people, that
is, theindicator of thelocal content instaff
is96.7%. Thefact isworthy of noting that
we are talking about permanent employees
working under current contracts, excluding
contractors and subcontractors involved
inthe work onthe fields. Coverage of
this particular segment isthe main focus
inthe project implemented by theMinistry
to prepare thehigh-demand technical
specialists atthe expense of subsoil users.
Ingeneral, thedevelopment of labor
potential inthe oil industr y pursues

two directions. First, as part of their


contractual obligations subsoil users
improve competence of their own staff
inorder to perform gradual nationalization
of thepersonnel.
Taken theaverage annual expenses of
$600,000 spent ontraining by a single oil
and gas company, thetotal amount of funds
earmarked for these purposes by theindustry
isabout $120 million. Second, according
to theLaw On Subsoil and Subsoil Use
theunused funds allocated to thecorporate
training should be directed to theeducation
of citizens of Kazakhstan, and especially
to theadvanced professional training of
domestic contractors personnel.
Monitoring of contractual obligations
ontraining identified a number of subsurface
users with significant debt. A coordinated
approach to thedevelopment of these
tools allowed us to prepare more than
four thousand highly-demanded technical
experts, which was a real support to about
170 Kazakh companies, as well as a real
contribution to solving theissues of full
employment.
This year, theproject under implemen
tation reached a qualitatively new level.
One of theobv ious problems inthe
employment of young professionals isa
lack of unique qualification requirements
from theemployers side. Given thecurrent
level of thedevelopment of thenational
qualif ic at ion s y s t em , int er nat ional
qualification may become thealternative
and theprofessional elevator for
thecandidates. Investing inthe training
of highly qualified specialists inaccordance
with international standards meeting
therequirements of foreign investors will
provide thedemand and labor mobility of
Kazakh personnel. For example, this summer
theLloyds Register Kazakhstan international
certificates for welding were provided
to thefirst participants of our project.
We should understand that thedevelop
ment of giant oil fields unheard-of inthe
histor y of thedomestic oil industr y,
including inthe Caspian shelf, will require
maximum mobilization of human resources,
and we must be ready for it. Therefore,
our primary task isto cooperate fully with
theKazakh service companies, including
preparation of relevant personnel. This will
bring up qualified local suppliers able to
perform themost complex offshore work,
satisfying therequirements of theoil and
gas industry.

subsurface uSe

Kazakhstans Oil and Gas:


Reserves, Production, Investment
Rich hydrocarbon raw material reserves in Kazakhstan have ensured effective
development of the energy sector and attraction of investments from the worlds
largest investment oil producing companies, while the adoption of new laws on
mineral production has strengthened the investment and energy policy aimed
at boosting the economy of the country. Also, considerable prognostic resources
of the Kazakhstans sector of the Caspian Sea, given the current imbalance of
generation and consumption of energy in the world, will ensure Kazakhstans
leading position in the world market for many years.

94

l 2012# 5l

Kazakhstan

Reserves

ith its 2.7% of theworld's proven


hydrocarbon reserves, Kazakhstan
ranks ninth inthe global rankings of oil
producing countries. We are just behind
Saudi Arabia (25.5%), Iraq (11.1%), Kuwait
(9.5%), Iran (9.2%), UAE (7.8%), Venezuela
(6.5%), Russia 5%), and Libya (2.9%).
As of January 1, 2012 thestate balance
sheets had a record of recoverable reserves
on241 oilfields (4.9 billion tons), 220 gas
deposits (or 369 facilities) (1.6 trillion
m3), and 61 oil and gas condensate fields
(364.8 million tons).
Themain oil and gas fields are located
inWestern Kazakhstan, confined to thenear
edge zones of theCaspian Depression, to
theSouth Emba and North Buzachi uplifts,
North Ustyurt system of troughs, South
Mangyshlak trough, and continental shelf of
theKazakhstans sector of theCaspian Sea.
In2011, following theresults of geological
exploration operations, thereserves of
thesix hydrocarbon oilfields Shalva,
Shoba, Akkar East, West Tuzkol, Maykyz and
Zharkuon, were for thefirst time included
into thestate balance sheets.
Theprobable reserves reach 17 billion
tons of crude oil and over 146 trillion m3 of
gas. Theaggregate increase inthe reserves
in20002011 amounted to 1,860.2 million
tons of crude, 118.7 billion m 3 of gas,
and 25.6 million tons of gas condensate.
During thesame period of time, 673.8
million tons of oil, 285.9 billion m3 of gas,
and 52.4 million tons of gas condensate
were produced (Charts 1 and 2). So, we can
state that theincrease incrude oil reserves
exceeds their consumption by almost
three times that secures theprovision of
thesector with thereserves for more than
70 years. Along with that, recent years
showed positive dynamics of production of
gas and gas condensate.
As of January 1, 2012, 141 companies
engaged inminer al produc t ion of
hydrocarbons at243 sites. Exploration
carried out at62 sites, production at80
sites, and combined exploration and
production at101 sites.
Itis worth noting that thegreater part of
theoil reserves (including the2 category)
isconcentrated atthe sites that are under
development by large mineral producers.
North Caspian Operating Companys (NCOCs)
share inthe reserves is44%, Tengizchevroils
25%, Mangistaumunaigass 3%, CNPC-Aktobes

3%, Ozenmunaigass 3%, Karachaganak


Petroleum Operating BVs 3%, theOperating
Company Buzachi Operating Ltds and
Embamunaigass 2% each, Tethys Aral Gass,
Kazakhmys Petroleums, Kazakhoil Aktobes,
Karazhanbasmunais, PetroKazakhstan Kumkol
Resourcess, and KazGermunais 1% each.
Theremaining medium and small mineral
producing companies together develop 9%,
and 2 more per cent of thereserves are free
of mineral production and are inthe general
fund of reserves.

Investments

At

the moment, thelargest corporations


from 45 countries are investing inthe
mineral raw material sector of Kazakhstan.
From 2000 to 2011, $125.6 billion was
invested inhydrocarbons production. Of
them, $16 billion was invested ingeological
exploration. During this period, their
volume increased six fold (Chart 3) to $18.4
billion, as of theend of last year, including
$1.6 billion for geological exploration.
Itis expected that by theend of this
year, thefigures will be $18.9 billion and
$1.6 billion, respectively.
Following the2011 results, about 86%
of all theinvestments inhydrocarbons
production were made by large companies.
A m o n g t h e m a r e NCOC (3 8 .6
%) ,
Mangistaumunaygas (9.3%), KazMunayGas
Exploration and Production (7.1%), KPO
(6.3%), CNPC-Aktobemunaygas (6.3%),
Tengizchevroil (4.8%), PetroKazakhstan
Kumkol Resources (2.9%), Kazakhoil Aktobe
(2.7%), Karazhanbasmunai (2.3%), JV
Zhaikmunai (2.3%), Buzachi Operating Ltd
(1.6%), Sauts Oil (1.1%), and Kazgermunai
(0.9%).
Investment activity of themineral
producers atthe hydrocarbons-bearing
deposits contributes to social and economic
development of thecountry. For thepast
12 years, almost $2 billion was directed by
them to social welfare of theregions and
local infrastructure, and $836 million to
training of theKazakhstani personnel. Over
this period, thenumber of theemployees
working onthe contract sites increased
from 32 thousand to 47 thousand people
(Chart 4). Overall, in20002011, thetotal
amount of taxes and payments paid to
thestate budget by themineral producers
was 14,405.2 trillion tenge, including 4.273
trillion tenge as taxes for theactual volume
of produced hydrocarbons.

Production

In

comparison with theyear 2000, oil


production inKazakhstan increased
by 2.5 times. To date, thecountry has
produced about 73.9 million tons of oil.
Thegreatest contribution to theproduction
of oil, as of theend of 2011, was made by
thecompanies from theAtyrau Oblast
(41%), Mangistau Oblast (24%), and Aktobe
Oblast (11.2%) (Table 1). Providing 35% of
total oil production, Tengizchevroil remains
theleader inthis indicator. Then itfollows
KPO (9.2%), KazMunayGas Exploration and
Production (9%), CNPC-Aktobemunaygas
(8.4%), Mangist aumunaygas (7.8%),
Kazgermunai (4.1%), PetroKazakhstan
Kumkol Resources (3.8%), Karazhanbasmunai
(2.7%), Buzachi Operating Ltd (2.7%), and
Karakuduk-Munai (1.9%). Theshare of
theremaining mineral producers isonly 15%.
As for thegas production, themain
volume of it(including gas, dissolved inoil)
isprovided by theAtyrau Oblast (43%),
Western Kazakhstan Oblast (30.8%), Aktobe
Oblast (10.4%) and Mangistau Oblast (9.8%).
In2011 Kazakhstan 32.1 billion m3 of gas
(including 3.1 billion m3 of free gas and
29.4 billion m3 of gas dissolved inoil) was
produced.
Thelargest figures inproduction of free
gas were demonstrated by theOffshore
Petroleum Company KazMunaiTeniz (26%),
KPO (19%), Kazakh Gas Refinery (16%),
Mangistaumunaigas (10%), Zhaikmunaigaz
(10%), Amangeldy Munai Gas (10%), and
Tethys Aral Gas (6.5%).
Inits turn, theleaders inproduction of oildissolved gas are Tengizchevroil (46%), KPO
(32%), and CNPC-Aktobemunaygas (11%).

Fulfillment of contractual
obligations

heactual fulfillment by themineral


producers of their financial obligations
under themineral production contracts
reached 7,234.2 trillion tenge in2011.
41% of thetotal financial obligations, or
2,982.6 billion tenge were investments,
50%, or 3,653.6 billion tenge were taxes
(Tengizchevroils share of thetotal amount
of taxes onthe oil and gas sector amounted
for almost 38%), and 8%, or 557.4 billion
tenge were indirect costs, less than 1%,
or 17.2 billion tenge were insurance costs,
and less than 1%, or 23.5 billion tenge were
deductions to theliquidation fund.

Kazakhstan 2012# 5

95

subsurface uSe
Breakdown of Crude Hydrocarbon Outputs by Regions for 2011
Oil

Regions

1
2
3
4
5
6
7
8
9

Aktobe
Atyrau
West Kazakhstan
Karaganda
Kyzalorda
Mangistau
East Kazakhstan
South Kazakhstan
Zhambyl
Kazakhstan, total

Number of
Fields
36
97
10
10
25
62
1

thousand
tons
8,305.0
30,271.6
6,674.3
4,754.2
6,146.0
17,727.5

% of Total

241

73,879

100.0

If directly considering thestructure


of investment, of 2,982.6 billion tenge
total invested, 1,191.9 billion were
thecapital expenditures, 1,472.1 billion
tenge were theproduction costs, 227.2
billion tenge were thecosts for geological
exploration, and 46.5 billion tenge were
theexpenditure onsocial welfare and
local infrastructure. Inaddition, 23.6
billion tenge were allocated for training of
Kazakhstani specialists, 4.3 billion tenge
for operation of underground facilities,
and 9.8 billion tenge for monitoring of
pollution of subsoil. Expenses for R&D
were 3.9 billion tenge, and for acquisition
of technologies 3 billion tenge.
However, as inprevious years, not all
themineral producers meet theterms
and conditions of their contracts infull.
Of 243 sites that are currently under
mineral production, themeeting of
financial obligations by more than 100%
was recorded atonly 140 sites (57.6%

Gas
Number
of Fields
29
59
13
12
25
68
1
2
4
213

11.2
41.0
9.0
6.4
8.3
24.0

billion m3

% of Total

3,333.6
13,800.0
9,893.5
544.4
1,057.5
3,134.6

10.4
43.0
30.8
1.7
3.3
9.8

344.1
32,107.7

1.1
100.0

of all thenumber of thesites and 76.3%


of thetotal amount of thef inancial
obligations). As for theremaining sites,
thefigures looks as follows: on23 sites
themeeting of thefinancial obligations
makes 70% to 100% (9.5% and 20.6%,
respectively), onsix sites 50% to 70%
(2.5% and 0.4%, respectively), onfive sites
30% to 50% (2.1% and <1%, respectively),
and on69 sites less than 30% (28.4% and
2.6%, respectively).

Condensate
Number
of Fields
29
60
13
12
25
69
1
2
5
216

% of Total

878.7

28.13

3.974
1,664.18

0.13
53.27

326.5
3,124.1

10.45
100.0

8.02

hand, inrecent years an upward trend


of export of capital was marked, which
has a negative impact onthe balance of
payments inthe country.
O ver t hep er io d of 20 0 0 2011 ,
investment s inmineral produc t ion
exceeded $125 billion, of which 75% to
80% were theforeign investments. Over
thesame period, gross income from oil
exports reached $430 billion, a 3.5 time
rise. Themost of theproceeds remains
with TNCs.
Inthis situation, thetendency of
increasing theequity of foreign partners
inthe mineral producing companies
islikely to further threaten thenational
interests of Kazakhstan.
To avoid t his , inrecent y ear s ,
theGovernment of Kazakhstan was
pursuing a consistent policy to increase
theparticipation of thestate inthe oil and
gas area. Inparticular, when negotiating
t h e r e - s ch e dul in g o f comm e r c ia l

Problems and solutions

ne of themajor challenges for further


development of theoil and gas
sector of Kazakhstan isthe ensuring of a
balance between theinterests of foreign
investors and thestate. Onthe one hand,
when thecountry started developing its
mineral resources, thecountry could not
do without themoney and technologies of
multinational companies, but onthe other
Chart 2

Dynamics of Oil Reserve Increment/Output Ratio for the


Period of 20002011

Dynamics of Gas Reserve Increment/Output Ratio for


the Period of 20002011

894.6

Oil Output (mln tons)

l 2012# 5l

Kazakhstan

22.8

24.0

27.0
10.5

22.0

21.7

3.1

4.2

4.6

5.0

2003

Gas Output (bln m3)

2010

2009

2007

2006

2005

2004

0.6

5.7

2002

9.8

10.1

2001 0.0

2000 0.0

2011 13.121.7

73.4
45.2

73.8
119.9

2010

2008

Oil Reserve Increment (mln tons)

10

15.0

20

2009

66.2

59.7
60.7

2007

7.9

60.0

2006

54.6

2005

53.4
57.6

2004

43.6

2002

2003

37.0
6.7

2001

31.4
0.0

100

2000

200

46.8

150.4

300

241

263.1

400

20.7

30

500

32.1

34.3

40

600

7.3

700

32.8

42.0

50

2008

800

53.7

Chart 1

900

96

thousand
tons
250.7

2011

Gas Reserve Increment (bln m3)

Kazakhstan 2012# 5

97

production, Kazakhstan was able to


increase its stake inthe project from 8%
to 16.8% and achieved thepayment of
royalties, which was absent inthe original
agreement.
Inaddition, theGovernment achieved
theinclusion of Kazakhstan inthe project
of development of theKarachaganak
oilf ield. Thenegotiations, conducted
in20092011, resulted inKPO consortiums
decision to assign a 5% interest infavor
of Kazakhstan to settle thedisputes for
theperiod till December 31, 2009 and to
sell theother 5% atthe market price ($1
billion without tax). Along with that, itwas
decided to apply theagreed mechanism
to allow theKazakh side to increase
control over theamount of costs, incurred
inthe course of implementation of major
investment projects atthis field. Inits
turn, Kazakhstan confirmed thestability
of thecontract with KPO and agreed to
allocate an additional quota inthe Caspian
Pipeline Consortium inthe amount of 0.5
million tons a year, with a further increase
to 2 million tons.
Protecting theinterests of thestate,
as theowner of thesubsoil , became
an important aspect inthe making of
latest amendments to thelaws. Thekey
mechanisms here are: state control over
thecirculation of theright to mineral
production and development of related
sites, theestablishing of clear procedures
for exercising thepr ior it y r ight of
thestate, theincrease of revenues to
thebudget, cancellation of PSA as a
model of mineral production contracts,
and theinclusion of standards to respond
to violations by thecontractors.
As part of theprocedure for entering
into contracts, theconceptual innovations
here are: theright of mineral production
for combined exploration and extraction
under resolution of theGovernment with
respect to themineral deposits that are of
strategic importance, and (or) a complex
geological structure, theseparation of
periods of themineral deposit development
for clear determining and scheduling of
theplanned activities, thedefinition of
thesize of payments for social development
of theregion, and thesettlement of an
issue of transition from theexploration
phase to theproduction phase.
As part of theprocedure for conducting
of bids for theright of mineral production
and of direct negotiations one can

Chart 3

Dynamics of Investment in the Hydrocarbons Sector


in 20002011 and Forecast 2012
20,000
18,000

16,008.0 16,443.5

16,000
12,000

10,090.8

10,000
7,248.8

8,000
6,000
4,000 2,990.7

3,492.7

17,214.6

11,253.2
9,556.2

7,954.1
5,797.2

4,435.7
3,986.9
2,136.7
1,451.6
1,540.8 1,757.3 1,844.4 1,403.5 1,488.0 1,641.3 1,685.6
2,771.3
911.1
823.2
721.4

2,000 2,705.6
285.1

4,810.1 5,346.8

18,900.2

16,762.1
15,040.1 15,196.8
14,163.6

13,010.5
11,097.0

14,000

18,403.3
16,684.8

2000 2001 2002

2003 2004 2005 2006 2007 2008 2009

Exploration costs ($ mln)

2010

2011 2012

Other investments ($ mln)

mark thereduction as to thecriteria for


selection of thesuccessful bidder to two
persons (the amount of thesubscription
bonus, and theamount of expenditure
onsocial and economic development
of theregion and ondevelopment of
its infrastructure), thedetermining of
theprocedure and grounds for conducting
therepeated bids and recognition of
itas null and void, theapplication of
theprocedure for direct talks inthe event
of exercising of thepre-emptive right of
mineral production for theperson who
made a commercial discovery, and also
theexploration or production carried out
by a national company.
To combat corruption and to ensure
transparency of solut ions taken by
thegovernment agencies, a number of
consulting and advisory committees were
set up with regulation of their powers.

total

Inaddit ion , inaccordance w ith


Government Resolution No. 117 dated
February 10, 2011, themineral producers
are obliged to transfer to theelectronic
form of repor ting onimplementation
of their contractual obligations (LKU)
inInt egr at ed Inf or mat ion Sy s t em
A Single State System of Mineral Production
Management inKazakhstan. To date, about
85% of thecompanies have transferred to
theelectronic form, theremaining 15% of
medium and small companies are still atthe
transition phase.
Elvira Dzhantureyeva,
Ph.D inTechnical Sciences,
Head of Mineral Production Results
Analysis Service of RCGI Kazgeoinform
under theCommittee for Geology
and Mineral Production, Ministry of
Industry and New Technologies

Chart 4

Dynamics of Employment Volume, Training Costs, Social Expenditure, and


Local Infrastructure Expenses for the Period of 20002011

300

250
200

46
40

36
32

32

74.7
52.2
11.1

2000

17.4

2001

21.4

2002

40.6

2003

47.5

2004

57,2

2005

47

163.8
91.9

70

49.4

247.8
217.6

48

116.1

100
50

165.7

155.8

150

44

42

60.2

60

54

54
248.7

259.7

112.1

50
40

144.4 30

113.1

20

61.9

10
2006

2007

2008

2009

2010

2011

Social Expenditure, and Local Infrastructure Expenses ($ mln)


Training Costs ($ mln)
Employment Volume (thousand persons)

Kazakhstan 2012# 5

99

oil chronicles

No Right to Export
for another Five Years
In midsummer, the Government of Kazakhstan extended the ban on exports
of light petroleum products for another six months. So, the total duration of
the moratorium on exports has been almost two years by now. However, this
restrictive measure is likely to last till 2015 the time Kazakhstan is expected
to complete the modernization of its three refineries and be able to cover on its
own the demand by the domestic market for fuels.

ban for expor t s of a number of


petroleum produc t s w ill operate
inKazakhstan from July 1 through theend
of 2012. As thegovernment decree issued
onAugust 16 states, theban for exports
isintroduced in order to prevent a critical
shortage inpetroleum products inthe
domestic market and relevant price rise.
Inparticular, thenew ban applies to

100

l 2012# 5l

Kazakhstan

exports of light distillates, kerosene, gas


oil and other petroleum products. Thegiven
restrictions do not apply to naphtha and
household heating oil.
TheCustoms Control Committee under
theMinistr y of Finance will monitor
theimplementation of thedecree. Along
with that , theMinistr y of Economic
Development and Trade was commissioned

to duly inform theEurasian Economic


Commission of theintroduced ban, as well as
to submit to itfor consideration a proposal
as to theapplication of similar measures by
other Customs Union member-states.
As predicted by independent experts,
atthe end of 2012 theban will be extended
and will operate until 2015. By that time,
theGovernment of Kazakhstan expects

to complete renovation of theexisting


ref iner ies to fully meet thedemand
of thedomestic market for petroleum
products.
We remind that a temporary ban onexport
of light oil products was introduced for
thefirst time inKazakhstan atthe end of
2010 and later onwas extended inJuly,
and then atthe end of 2011. Officials
repeatedly told that thegovernment
would give up this mechanism. Indeed, for
some period of time, some exceptions from
theban were allowed. Inthe end theban
isagain extended, true, as itwas promised
inFebruary of this year by theMinister of
Oil and Gas Sauat Mynbayev. According to
him, thereason isnot only thelack of fuel
inthe country, but also that Kazakhstan
accepted Russias arguments linking
theexports of light petroleum products
from our countr y with re-expor ts of
Russian raw materials.
Al so notewor thy isthe fact that
during theperiod of theban Kazakhstan
repeatedly applied to theCustoms Union
asking Russia and Belarus to launch
similar actions, stating that with their
introduction thedomestic fuel market
of theCustoms Union would stabilize.
Inearly August 2012 theCU committee
again supported this proposal addressed
to thegovernments of Russia and Belarus,
with a request to consider a temporary ban
onexports of thesaid products, following
Kazakhstan.
However, theprobabilit y that our
partners will accept that offer isnegligible.
Unlike Kazakhstan, which isunable to meet
its demand for fuels, Russia isnot currently
suffering theshortage inthem. As for
Belarus, where theshare of petroleum
products exceeds 35% inthe total value
of exports, thesale of petroleum products
outside theCIS isamong themain items of
income inforeign trade of thecountry.
With its 65 refineries with total refining
capacity of 273 million tons, Russia isthe
largest petroleum products producer inthe
Customs Union and ranks third inthe
world after theU.S.A. and China. In2011,
Russias refineries produced 36.6 million
tons of gasoline, 9.3 million tons of jet fuel,
75.1 million tons of fuel oil, and 70.6 million
tons of diesel fuel.
For example, last year, 4.15 million tons
of gasolines were exported from Russia, or
11% of thetotal gasoline output. Thetarget
markets for export of theproducts were

theCIS countries, including Kazakhstan


(801,000 tons), Kyrgyzstan (451,000 tons),
and Tajikistan (154,000 thousand tons),
as well as theBaltic States, Mongolia, and
Afghanistan.
Concerning diesel fuel, theexport of
itaccounts for usually more than a half
of its output. Themain problem of theoil
processing industry inRussia, as well as for
Kazakhstan, islow quality and low yield of
light petroleum products. Along with that,
inaccordance with thescheduled deadlines
for transition to theEuro-4 and Euro-5 (in
2014 and 2015) standards, theRussian
petroleum companies are implementing
a program of renovation of therefineries,
providing for improvement of secondary
oil processing. By estimate of experts, if
relevant agreements between thestate
authorities and plants are met, by theyear
2015 about 180 million tons of light
petroleum products will be produced inthe
Russian Federation atthe domestic market
capacity of 120 million tons.
Among thecountries, Belarus isthe
least interested inKazakhstans initiative.
This country isnow actively increasing
exports of petroleum products to Europe:
12.3 million tons in2011, a 39.6% rise.
Invalue terms, theshare of fuels was
$9.2 billion, or 22.3% of all exports by
Belarus to themarkets of Europe. Total sales
of fuels produced inBelarus increased by
39.2% to 15.6 million tons.
One more steadily growing market
isUkraine, where domestic prices of motor
fuel reach thelevel of those inEurope.
For exporters of petroleum products from
Belarus, export from Ukraine isthe most
profitable. Theexpectations are that this
year theexports of fuel from Belarus to
Ukraine could rise by 22% to 3.4 million
tons 3.5 million tons.
We should have inmind that according to
Belaruss plan of action onimplementation
of thekey directions of socio-economic
development of thecountry for 20112015,
thecountry plans to enter new markets of
petroleum products, such as Nigeria, China,
Canada, Scandinavian countries, and etc.
Incase of theban onexports of light
petroleum products inthe CU, Belarus will
have to fully re-orient its exports towards
theRussian market. This isdespite thefact
that gasoline prices inRussia are almost
equal with those inBelarus, and diesel fuel
prices are even cheaper. Itis thereason why
Belarusian oil products were not practically

exported to Russia in2011: only 24 thousand


tons of gasoline and 11 thousand tons of
diesel fuel were sold to Russia. Besides, itis
not absolutely profitable for Belarus to buy
Russian oil for dollars and sell itback as
petroleum products for rubles.
Thus, itseems that Kazakhstan will have
to solve its problems onits own.

Innovative priorities of
thegovernment

As

part of implementation of theorder


of President to increase funding
of promising scientific research through
innovation grants, theGovernment of
Kazakhstan set priority areas to provide
these grants. As noted inthe relevant
resolutio issued onAugust 16, 2012, these
areas include: advanced technologies for
exploration, production, transportation
and processing of mineral and hydrocarbon
resources, advanced technologies inthe
mining and metal sectors, agriculture,
biotechnology, chemical and petrochemical
sectors, machinery (including theuse of
new materials), alternative energy and
energy efficiency, as well as information
and communication technologies.

New status for KazTransGas

nder theResolution of Kazakhstans


Government of July 5, 2012, KazTransGas
JSC was given thestatus of a national
operator of Kazakhstan inthe area of gas
and gas distribution. Theareas of business
of thecompany involve theparticipation
indevelopment and implementation of
a general scheme of gas distribution
inthe country, theexercising of thepreemptive right of thestate to purchase
crude and product gas, as well as facilities
of theunified gas distribution system
(UGD). Inaddition, among thepowers of
KTG isthe provision of centralized dispatch
control of theUGD facilities operation,
as well as thewholesale and retail sale of
marketable gas.
We remind that KazTransGas as part of
theNational Company KazMunayGas was
set up in2000 to systematize work inthe
oil and gas industry. Itcarries out corporate
management of assets inthe exploration,
production, transportation and distribution
of gas. KazTransGas Group of Companies
includes enterprises and organizations
engaged inproduction, transportation and

Kazakhstan 2012# 5

101

oil chronicles
Operating statistics for JanuaryJune 2012
According to theAgency for Statistics, inthe first half of theyear Kazakhstan
produced 33.3 million tons of oil and 6.3 million tons of gas condensate, which,
respectively, by 1.6% and 0.3% less than inthe same period last year. With this,
natural gas production was increased by 2.7% to 20.5 billion m3.
Production of thedomestic gasoline during this period totaled 1.49 million tons, up
17% than inJanuaryJune 2011. Along with that, theproduction of kerosene inthe
first half of theyear decreased by 1% to 194.9 thousand tons, and theproduction of
gas oil by 0.4% to 2.275 million tons and of fuel oil by 6.6% to 1.975 million tons.
Hydrocarbons production inKazakhstan in20042012
First half of
2012

2004

2005

2006

2007

2008

2009

2010

2011

59

61.45

65.05

67.42

70.72

78.51

79.52

80

39.6

20.5

26.2

27.0

29.22

33.38

35.6

37.1

39.3

20.5

Oil and gas


condensate, mln tons
Natural gas, bln m3

Source: Agency for Statistics of theRepublic of Kazakhstan

sale of gas and products of its processing, as


well as provides relevant services.
InJanuaryJune 2012, KazTransGas JSC
increased transportation of gas over its
trunk pipelines to 56.4 billion m3, a 3.9%
rise, compared to thesame period last year.
Transporttaion of gas over thepipeline
systems of KazTransGass subsidiar y
Intergas Central Asia JSC increased by
0.6% to 51.1 billion m 3 , of which 39.7
billion m3 were theinternational transit,
5.5 billion m3 for domestic distribution,
and 5.9 billion m3 for export. Inits turn,
thevolume of gas carried by theother
subsidiary of KTG TheAsian Gas Pipeline
LLP, over thetrunk gas pipeline Kazakhstan
China rose 1.5 fold to 5.3 billion m3.
As for thesale of natural gas, inthe first half
of 2012 its volume reached 6.282 billion m3,
which is10.2% more than inJanuaryJune
last year.

KazRosGas increased
supplies to
thedomestic market

In

the first half of theyear, KazRosGas


JV supplied 2.075 billion m3 of natural
gas to thedomestic market, which is1.8%
more than inthe same period of 2011.
Among them, direct supplies to theWest
Kazakhstan oblast were 444 million m3 ,
counter-supplies of theRussian gas to
theKostanai oblast were 512 million m3,
and of Uzbek gas to Almaty, Almaty oblast,
South Kazakhstan oblast and Zhambyl
oblast 1,118 million m3.
During this period, atthe Orenburg
gas chemical combine thecompany
processed 4,168 million m3 of raw gas from

102

l 2012# 5l

Kazakhstan

theKarachaganak field, which isslightly


less than inthe first half of 2011 (4,177
million m3).
Inaddition to dry gas, also technical
sulfur, LPG, ethane fraction, stable gas
condensate, pentane-hexane fraction
and fuel gas were produced as products
of processing. Thecompany sold these
products inthe Russian Federation and
inthe markets of Eastern Europe.
For information: KazRosGas JV was
established under an agreement of
November 28, 2001, entered into between
Kazakhstan and Russia oncooperation
inthe gas sector. Theparticipants to
theJV ona parity basis are KazMunayGas
and Gazprom Open JSC.

Gas infrastructure for


regions

In

the Nor th-Kazakhstan oblast ,


theconstruction of thetrunk gas
pipeline WestNorth Center started,
which will run through theTimiryazevsky,
Shal Akyn, Aiyrtausky and Tayynshinsky
distr ic t s and w ill cover 186.3 km.
Theproject ispar t of thestate-run
program for provision of thenorthern and
central regions of Kazakhstan with gas.
Apart from theSouth Kazakhstan Oblast,
theroute will pass through theKostanay
and Akmola regions.
Inthe Atyrau oblast therenovation
of thehigh-pressure trunk gas pipeline
Inder Makhambet isunder completion.
This project ispart of theregional program
for 20112012 for provision of thegiven
areas with gas. 107 km of thepipeline will
be replaced. To date, a trench with length

of 46 km isdigged out, and 35 km of pipes


welded. Inthe near future all thescheduled
operations will be completed. Itis expected
that therenovation will make itpossible to
ensure uninterrupted gas distribution for
thetwo districts of theoblast.
Theconstruction of thegas turbine
power station (GTPS) Akshabulak inthe
Kyzylorda oblast isaccomplished. Inthe
course of implementation of this project,
aimed to eliminate theproblems of disposal
of thecasing-head gas and theshortage of
electricity inthe region, gas turbines units
were installed and relevant infrastructure
created in20102012. New power generating
facilities made itpossible to improve
thepower distribution scheme atthe Kumkol
and Akshabulak fields. So, atthe Akshabulak
three gas turbines with total capacity of 87
MW were commissioned. Thelatest equipment
from theAmerican, Japanese and Finnish
manufacturers was used inthe power plant
construction.
Thetotal cost of thesaid investment
project is19.6 billion tenge. Theproject
was implemented under financial support
of theKazakhstan Development Bank.
Inaddition, investments from theJapanese
banks JBIC and CITI BANK of Tokio, and
theFrench BNP Paribas were raised.

Attractive price for transit


of Russias oil

heAgency for Regulation of Natural


Monopolies set a price of KZT1,673.89
(excl. VAT) per ton per one thousand km
for transit of Russias oil over thetrunk
p ip eline At a su Al a shankou v ia
theterritory of Kazakhstan Tenge, which
will become effective September 1, 2012.
Although atpresent, theRussian oil
exporters do not use this route, a number
of them have already expressed their
willingness to carry oil via theAtasu
Alashankou pipe, prov ided that they
do not face problems of getting quotas
intheir export schedules. Inthis regard,
theMinistry of Oil and Gas of Kazakhstan
set a quota for Russian companies for
transportation of their oil over thepipeline
inthe amount of 250 tons per month.
TheMinistry of Oil and Gas believes that this
quota will operate until theend of 2012.
Meanwhile , thepr ice of car r y ing
Kazakhstani LHC over theAtasu Alashankou
pipeline is3,818 tenge per ton per one
thousand miles. Such difference inthe rates

for Kazakhstans and Russias oil isdue, first of


all, to different methodology of calculation
applied by theAgency for Regulation of
Natural Monopolies, and secondly, theaspire
of Kazakhstan to make theproject more
attractive for theRussian exporters.

KazMunayGas and ENI to


build vessels

fter state examination theNational


Company KazMunayGas got a positive
opinion with regard to thefeasibility
study for construction of a ship-building
yard and ship-repairing yard inthe Kuryk
settlement. This project isunder joint
implementation by KMG and Italian ENI,
and ismanaged by Directorate for KMGs
Enterprises under Construction LLP, a 100%
subsidiary of KazMunayGas. Inits turn, ENI
finances thedevelopment of feasibility
study and design estimates and participates
inorganization of financing of theshipyards
construction. Kazakhstani companies
will be engaged to carry out thedesign;
theselection of thecontractors will be
completed before December 2012.

Thefirst Kazakhstans
offshore drilling rig

hecompanies Teniz Burgylau, Keppel


K a z ak hs t an and Er s ai C a sp ian
Contractor signed a contract to build
thefirst self-lift floating drilling rig
(SFDR) inKazakhstan, designed for drilling
of wells atthe water depth of 5m to 80m.
TheSFDR construction will be carried
out atthe shipyards of theMangistau
oblast, involving to 1,000 local staffers.
Theproject documentation developed
by Keppel FELS Ltd isalready agreed
with theKazakhstani authorities and
classification societies theAmerican
Bureau of Shipping (ABS) and theRussian
Maritime Register of Shipping (RMRS).
TheSFDR systems are designed to
operate incorrosive environment and
incondition of presence of hydrogen
sulf ide. Theprojec t prov ides for
compliance with thezero discharge
requirement s , i.e. a complete ban
ondischarge into thesea of any kind
of waste, resulted f rom industr ial
activity. Thewaste will be collected and

transported insealed containers for their


further processing and disposal.
Theconstruction of thefirst offshore
drilling rig inKazakhstan isfully consistent
with KazMunayGass strategy, aimed to carry
out aggressive geological exploration inthe
KCSS, to strengthen theposition of local
companies inthis segment of thesegment,
and to achieve themost efficient and
effective result inthe development of oil
and gas resources of thecontinental shelf.
Itis expected that theconstruction of
thefacility will be accomplished inthe first
quarter of 2015.

Japan loan for theAtyrau oil


refinery

heAtyrau oil refinery signed a loan


agreement with theJapan Bank for
International Cooperation and theBank
of Tokyo Mitsubishi UFJ to theamount,
totaling $297.5 million. Theloan was
provided to theoil refinery for a period of
13.5 years for thepurpose of construction
of a deep refining complex, a final phase
of theplant renovation. Thetotal value

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Recruitment
Practical HR Consulting
Outsourcing HR function and payroll
Out-staffing
Training (Soft skills, HR, PR, Technical, Safety, First Aid etc.)
Work permits and other aspects of expatriate work in Kazakhstan
Matchmaking - Corporate introduction and business development
Organizing conferences, seminars & forums

Our contacts:

l.+7727 2931357,
HR & Recruitment: +7727 3905429, Training: +77273905432
E-mails: info@glores.kz , cv@glores.kz, training@glores.kz

Aigul
Shamshildayeva

General Director Kazakhstan


Global Resources
2012# 5LLP103

oil chronicles
of theproject is$1,679.9 million, and
theperiod of implementation is41 months.
Thenew compl e x w il l inc rea s e
production of high-octane gasoline,
av iat ion kerosene and diesel f uel
conforming to theEuro-5 standard, and
raise theextent of oil processing to
85%. Theproject isdesigned for annual
processing of 2.4 million tons of raw
material (fuel oil and vacuum gas oil).
Thecont r ac t for cons t r uc t ion of
thecomplex was signed onDecember 29,
2011 between theAtyrau ref iner y and
theconsortium, which includes Sinopec
Engineering (China), Marubeni Corporation
(Japan) and KazStroyService (Kazakhstan).

KazMunayGas E&P
summarized theresults of
thehalf of theyear

et profit of KazMunayGas Exploration


& Production JSC inJanuar yJune
2012 amounted to 121 billion tenge, a
6% rise, compared to thesame period of
2011. Thecompany itself explains this by
theincreased price of crude oil both abroad
and domestically, thelower costs, and
also theincome gained from thecurrency
translation difference. Earnings per share
and GDR were 1.740 thousand tenge and $2,
respectively that isby 6% and 10% more than
inJanuaryJune 2011. Therevenue remained
atthe same level 399 billion tenge, or
$2,690 million. This ismainly due to thefact
that a 33% price increase inthe domestic
market has been fully offset by a decrease
inexports. With this, thehigher domestic
prices reflected theagreement reached with
thegovernment as to theincrease in2012
of price of supplies to thedomestic market
as compensation of increased costs within
Ozenmunaygas JSC.
InJanuaryJune 2012, export sales of
Ozenmunaygass and Embamunaygass crude
oil amounted to 3,011 thousand tons (122
thousand barrels per day), while thesupplies
to thedomestic market were 960 thousand
tons (39 thousand bpd). KMG EPs share
of sales by thecompanies Kazgermunay,
Karazhanbasmunay and PetroKazakhstan Inc.
was 2,237 thousand tons of oil (93 thousand
bpd), including 1,530 tons (64 thousand bpd)
supplied for export.
Along w ith that , tax payment s by
KazMunayGas E&P, other than thetax
onincome, inJanuaryJune 2012 decreased
by 11% to 144 billion tenge. Thecompany

104

l 2012# 5l

Kazakhstan

attributed this to reduced production and


exports.
Production costs inthe first half of
theyear were 69 billion tenge (+10%). Such
a growth isexplained inmany respects by
increased costs onpayment to theemployees
inconnection with annual indexation, held
onJanuary 1, as well as thereduction
instocks of oil unsold that was partially offset
by lower costs for repair and maintenance.
E x p e n s e s ons e l l in g o f o il an d
administrative expenses for thesix months
decreased by 21% to 47 billion tenge,
which was mainly due to reduced expenses
onfines, penalties and social projects,
reduced transportation costs and reduced
management fee of theNational Company
KazMunayGas, partially compensated by
increased expenses onremuneration to
theemployees.
Capital investment by KazMunayGas E&P,
including theacquisition of fixed assets and
intangible assets, according to thecash flow
report, reached 46 billion tenge that is1%
less than inthe same period of 2011.
However, theassets of thecompany, as of
theend of thefirst half of theyear, amounted
to 1.7 trillion tenge (13.3%), own capital
1.314 trillion tenge (+1.2%), and liabilities
353.9 billion tenge (+46%).

Kazakhoil Aktobe exceeded


thetarget plan

In

JanuaryJune 2012 Kazakhoil Aktobe


produced 583,340 tons of oil, which
is1.7% more than itwas targeted and by
9.9% higher than thefigures of thefirst half
of 2011. Inaggregate, in2012, thecompany
plans to produce 1,247.7 thousand tons of oil
against 1,140.7 thousand tons inthe last year.
Along with that, as part of preparation for
thecold season, Kazakhoil Aktobe will supply
to 200 million m3 of gas for KazTransGas. This
will increase theresource base of thenational
oper ator and prov ide uninter r upted
distribution of natural gas to enterprises and
thepopulation of theAktobe oblast.
OnJuly 1, 2012 Kazakhoil Aktobe already
supplied thefirst batch of natural gas from
its deposits inthe volume of 30 million
m3 for its injection into theunderground
storage Bozoi.
For information: thepar ticipants of
Kazakhoil Aktobe are theNational Company
KazMunayGas and Caspian Investments
Resources Ltd., thelatter isa joint venture
of Lukoil Overseas and Sinopec. In1999

thecompany started thedevelopment and


operation of theAlibekmola and Kozhasai
fields.

Theworld petroleum market

nergy Information Administration (EIA)


under theU.S. Ministry of Energy raised
its predictions of oil prices for thecurrent
year. Itis expected that theworlds oil
consumption in2012 will increase by 0.9%
to 88.83 million bpd. As a result, according
to theEIA, theaverage cost of WTI crude oil
inthe current year will be $93.9 per barrel
(in 2011 $94.86) and Brent oil $108.07
per barrel. However, theEIA downgraded its
forecast of production from 89.05 million bpd
to 88.89 million bpd that isnevertheless up
by 2.1% compared to 2011.
Inits turn, OPEC left almost unchanged
its expectations of global oil consumption
in2012 and 2013 at88.72 million bpd and
89.52 million bpd, respectively. Theforecast
of demand for OPECs own oil declined owing
to increasing supplies from thenon-members
countries of thecartel. OPEC believes that
in2013 theorganization will have to produce
29.5 million bpd. Also, itis expected that
theexporters that are not among themembercountries of thecartel, including Russia,
Brazil and Canada, will supply to theworld
market 53.18 million bpd in2012 and
54.1 million bpd in2013.
Meanwhile, theInternational Energy
Agency against thebackdrop of weakening
of theeconomy and theresumption of
thenuclear power plants operation inJapan
reduced theforecast of theworld consumption
of oil for thecurrent and coming years.
Inparticular, theIEA expects that in2013,
theworld oil consumption will grow by 800
thousand bpd to 90.5 million bpd, compared
with an increase of 900 thousand bpd inthe
current year. Theforecast for thenext year
islowered by 400 thousand bpd.
Concerning thelatest data, according to
theIEA, theoil production by OPEC inJuly
2012 decreased by 70 thousand bpd to
31.39 million bpd. Angola, Iran and Libya
reduced oil production. Production of
hydrocarbons inIraq, theUAE and Qatar
increased. Ingeneral, atthe moment, OPEC
produces 1.39 million bpd higher than theset
quota. IEA left unchanged its projections
of supplies from thecartel non-member
countries at53.9 million bpd.
Editorial

real estate

Atyraus Future

Homes Today

Chagala Group pleased to introduce


Saraishyk residential complex a
new project of three-and four-bedroom
apartments, setting a new standard
for residential accommodation on the
Western Kazakhstan real estate market.
With 72 apartments ranging from 94 to
148 square meters in the complex it is a
new format of luxury housing in Atyrau.

ne of themost unique
and ambitious projects of
thecompany a residential
complex Saraishyk has
an area of circa 8,000 square
meters and pl aced inthe
center of At yrau. Elegant
architecture of thebuildings
isexpressed inlight rectangular
forms with large panoramic
windows and glazed balconies.
T h ecomb ina t ion o f a irfacing buildings emphasizes
thesophistication and elegance
of Sar aishyk resident ial
complex.
Unique residential complex
Saraishyk isa new level
of comfort from theChagala
Group. Thecomplex islocated
conveniently ina grow ing
residential area near thetwo
bridges crossing theUral River.
For thefuture tenants itoffers
restaurants, tennis courts and
outdoor swimming pool, located
onthe territory of Chagala, and
also theLaguna entertainment
center, which will be built inthe
near future.
Our apar tment s designed
to meet therequirement s
of modern, successful and
demanding customer, and will
be built inaccordance with
international quality standards.
Thanks to high quality materials
and f ir s t cl a s s f inishing

Saraishyk will soon become


thebest address intown.
Each of thefour buildings
located inthe way that excellent
views of theUral River are seen
f rom theeach apar tment s
windows. Bedroom windows
face east and thewall onthat
side has a great sound and heat
insulation. Lounge, dining room
and kitchen are located onthe
western side where afternoon
sun fills theroom with light and
provides special microclimate
onbalconies w it h w int er
gardens, which also provide
protection from thestraight
sunlight inthe rooms.
Thesecur it y of your
family its not an additional
convenience but thebasic
postulate of Chagala Group
philosophy. Our pr inc iples
of design and construction,
including thewidely installed
fire alarm system, demonstrate
thehigh pr ior it y of liv ing
herefamilies safety. You can
be sure that every aspect of
international best practices
were taken into account inthe
Saraishyk design to ensure
your well-being and comfort.
Saraishyk a professionally
managed entity with a reliable
inf r as t r uc ture , ensur ing a
comfortable living. We managed
t o c reat e an e xcep t ional

combinat ion of comfor t


characteristics of living, that are
not found inAtyrau:
convenient location
clean air and great river views
efficient infrastructure
reliable security systems and
alarm systems
conc i e r g e s e r v ice s an d
monitoring of visitors
playground exclusively for
theresidents of thecomplex
access to all therestaurants
and bars of Chagala.
About us. Chagala isa well-known
brand hotel chain inwestern
Kazakhstan, for 17 years we
are creating a comfortable
living and working conditions

for employees of companies


primarily involved inthe
development of Kazakhstans
vast oil and gas potential.
Chagala Group portfolio includes
hotels, townhouses, apartments,
restaurants, offices and other
residential and commercial
properties.
Each year, we serve 400,000
visitors manage 17,000 square
meters of office space, as well as
14 restaurants and bars. Chagala
facilities are located insix
different regions of Kazakhstan,
At yrau, Ak t au, Ural sk and
Almaty, as well as insettlements
near themajor oil deposits
Karachaganak and Kashagan
Aksai and Bautino.

Kazakhstan 2012# 5

105

law

Gas Legislation: The State


strengthens its positions
On 9 January 2012, the President of Kazakhstan signed the Law On Gas and Gas
Supply, which has no analogue in the legislation of the Republic of Kazakhstan, since
earlier this sector was governed by the subsoil laws and a range of governmental
resolutions. In this Article, we would like to inform on the important legal changes,
which may affect activities of companies working in the gas industry.

106

l 2012# 5l

Kazakhstan

General provisions

heLaw On Gas and Gas Supply


(hereinafter theLaw) aims atthe
regulation of relations inthe area of gas
supply and as a general principle seeks to
thepriority of provision of theinternal
market with tank (under theLaw a mixture
of hydrocarbons with a predominance of
methane) and liquefied petroleum gas (under
theLaw a mixture of propane and butane),
produced inthe Republic of Kazakhstan.
TheLaw provides for a number of provisions
that directly relates to theactivities of
investors inthe area of gas and gas supply.

Pre-emptive and
priority right

heLaw provides for thepre-emptive


right of theState to acquire:
raw gas disposed by a subsoil user;
tank gas produced by subsoil users when
processing raw gas extracted and owned by
them under thesubsoil use contracts.
Pre-empt ive r ight isexercised by
t henat ional op er ator (hereinaf t er
the Operator) a legal entity created
(defined) by theGovernment and engaged
inthe activities inthe area of gas supply
for thedomestic needs of thecountry inthe
tank gas.
Theprice of supplies to theOperator
isdetermined by a subsoil user under a
method approved by theGovernment, and
includes thecost of thesubsoil user, as well
as profitability. TheLaw, however, does not
provide for consideration of market price
indetermining theprice for transactions
with theOperator.
To comply with thepre-emptive right, a
subsoil user must send a commercial proposal
to theOperator no later than 5 months prior
to theplanned period (as a general rule,
within a calendar year).
TheLaw also provides for thepriority right
of theState to acquire disposed facilities
of theunified tank gas supply system
(hereinaf ter theFacilities), which
includes thefollowing facilities intended
for production, transportation, storage, sale
and consumption of thetank gas:
connecting and main gas pipelines;
commercial gas store;
gas-distributing and gas-consuming
systems;
gas-filling stations;
other technical facilities.

Theunified system, however, does not


include:
field gas pipelines;
g a s - c o n s u m i n g s y s t e m s o f
domestic users;
technological facilit ies designed
for theproduc t ion, re-gasif icat ion,
t r a n s p o r t a t io n , s t o r a g e , s a l e a n d
consumption of liquefied petroleum gas.
Priority right also applies to thepurchase
of disposed interests (shares) of theFacilities
owners (hereinafter theInterests).
TheLaw, however, does not provide for
thepriority right of theState to purchase
shares of theInterests holders, i.e. itonly
applies to thefirst level of interests.
Inaddition, theLaw also does not specify
theresponsibility for thefailure to exercise
thepre-emptive right of theState to
purchase theFacilities or Interests.
Further note that theprovisions onboth
thepriority right and pre-emptive right of
theState entered into force on1 April 2012.

Gas sales regulation

heLaw prov ides for a number of


conditions to sell thetank gas, liquefied
petroleum gas and liquefied natural gas.
Thus, thewholesale and retail sale of
thetank gas (sales inthe domestic market or
abroad) may be only performed by a certain
number of persons as defined by theLaw.
As to theliquefied petroleum gas there isa
similar way of regulation. Moreover, as inthe
case with thetank gas, wholesale and retail
sale of theliquefied natural gas shall be only
performed by a certain number of persons
as defined by theLaw. Inaddition, theLaw
provides for theapproval by theGovernment
(as theauthorised body) for thelimit selling
prices for gas.
TheLaw requires that theseller or
performer must onor before 31 December
2012 renew t hes al e -and-purcha s e
agreements for theraw, tank, and (or)
liquefied petroleum gas, as well as contracts
for themaintenance of gas-consuming
systems and gas equipment of municipal
and domestic customers, signed before
theintroduction of theLaw for more than
a year.

Associated gas

In

respect of associated gas, theLaw


states that State owns associated
gas produced and owned by a subsoil

user inthe Republic of Kazakhstan,


inaccordance w ith thelegislat ion
onsubsoil and subsoil use, or transferred
by subsoil users to theState.
By thedecision of an authorised body
theassociated gas istransferred incertain
amounts, as defined by this body, inthe
ownership of an investor under theagreement
onpublic-private partnership inthe area of
gas and gas supply. Inthis case, theprice
of thetransfer isdetermined by agreement
between theparties. TheLaw also provides
for theapproval by theGovernment for
theprocedure of such a transfer.

Gas transportation

heL aw establishes a number


of res t r ic t ions int er ms of ga s
transpor tation. Inpar ticular, theLaw
approves an exhaustive list of persons, whom
isentitled to receive theservices of gas
transportation companies ontransportation
of thetank gas through main pipelines.
Inthis case, gas transportation that does
not meet state standards and technical
regulations of theRepublic of Kazakhstan
or thepre-emptive right of thestate isnot
permitted.
As to thetransportation of liquefied
petroleum and natural gas, there isalso
an exhaustive list of persons, who can
carry itby rail, road, sea, inland waterway
transport from Kazakhstan.

Conclusion

lease note that theLaw establishes


quite a tough regime of regulation of
gas sector inKazakhstan, inparticular by
theintroduction of monitoring thegas sales
and theexpansion of thepower of public
authorities.
Among thenegative consequences of
theLaw there isa possible reduction of
investment attractiveness of gas supply
area for foreign participants. Inaddition
to theabove reasons, theLaw creates
opportunities for nationalisation of thegas
supply system, which usually has a negative
impact onthe investment climate.
Inturn, a number of positive aspects of
theLaw include thecreation of preconditions
for theformation theunified gas supply
system inKazakhstan.
Yerzhan Yessimkhanov,
Partner, GRATA Law Firm

Kazakhstan 2012# 5

107